Here is what we are seeing as the markets kick in on Thursday.
–U.S. equity futures have fallen amid fading stimulus hopes and the prospect of further restrictions across Europe that cast a shadow over the global economic outlook. Futures contracts linked to the S&P 500 slipped 1%, suggesting that the benchmark could fall for a third consecutive day. Read our full market overview here.
–What’s coming up. Results season booms, with Morgan Stanley results,
Charles Schwab and intuitive surgery.
–Unemployment data. Unemployment claims in the United States are expected to show a slight decline in new claims, but the picture of economic disruption will remain unchanged. The Department of Labor is releasing numbers for the week ended Oct. 10 at 8:30 a.m. ET. Economists expect the data to show 830,000 more claims.
–IPO to watch. Array Technologies will begin trading Thursday, with the solar technology maker stock priced at $ 22 a share.
Markets to watch
Vertex Pharmaceuticals fell 9.4% in off-hour trading. The biotech company has said it will stop developing a drug to treat protein deficiency.
Market heavyweights including Apple, Amazon.com, Facebook, Google and Microsoft all fell during trading hours.
Morgan Stanley publishes its results this morning. In the past three months, 12 analysts’ estimates have improved EPS forecasts.
Walgreens Boots Alliance announced a 45% drop in fourth quarter profits from the previous year. Sales increased 2.3% from the same quarter last year.
Oneok fell 4.2% pre-market. Natural gas supplier switched from neutral to sell by Goldman Sachs.
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